Telecom It shares up after Vivendi says prefers Telefonica's bid for GVT

MILAN Aug 28 (Reuters) - Shares in Telecom Italia
rose more than 2 percent after Vivendi said it
preferred Spanish group Telefonica's offer for its
Brazilian broadband unit GVT to the rival bid put forward by the
Italian company.

Vivendi said in a statement it would enter into exclusive
negotiations with Telefonica over the sale of GVT.

At 1215 GMT shares in Telecom Italia, which had been trading
little changed before Vivendi's announcement, were up 3.36
percent at 0.8915 euros.
(Reporting by Francesca Landini, editing by Silvia Aloisi)